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Analysts at TD Securities suggest that after the China’s CPI rose to 2.3% y/y in March, a lower base and the impact of African Swine Disease could push the rate of inflation higher in April to 2.5% y/y.

Key Quotes

“Food prices (estimated to contribute around 10% to China’s CPI basket) are likely to increase further due to higher pork prices amid the worsening impact of African Swine Disease.”